Gorman-Rupp (NYSE:GRC) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Gorman-Rupp Company (The) (NYSE:GRC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.61 and traded as high as $49.52. Gorman-Rupp shares last traded at $48.84, with a volume of 71,038 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Gorman-Rupp Stock Performance

The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average price of $46.27 and a 200 day moving average price of $42.70. The stock has a market cap of $1.29 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.87 and a beta of 1.29.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Friday, October 24th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%.The business had revenue of $172.83 million for the quarter, compared to the consensus estimate of $174.61 million. As a group, research analysts forecast that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were issued a $0.19 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s dividend payout ratio (DPR) is 39.79%.

Institutional Investors Weigh In On Gorman-Rupp

Institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC purchased a new stake in shares of Gorman-Rupp during the first quarter worth about $213,000. Legal & General Group Plc boosted its stake in Gorman-Rupp by 11.8% in the 2nd quarter. Legal & General Group Plc now owns 263,975 shares of the industrial products company’s stock worth $9,719,000 after purchasing an additional 27,856 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Gorman-Rupp in the 1st quarter worth approximately $439,000. Geode Capital Management LLC grew its position in Gorman-Rupp by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock worth $19,117,000 after purchasing an additional 14,997 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Gorman-Rupp by 6.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock valued at $21,775,000 after purchasing an additional 38,260 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.